Core Viewpoint - Xanadu Quantum Technologies Inc. is set to become the first publicly listed photonic quantum technology company, with trading expected to begin on Nasdaq and TSX under the ticker XNDU on March 27, 2026 [1][2]. Group 1: Business Combination Details - The business combination with Crane Harbor Acquisition Corp. has been approved by shareholders, marking a significant milestone for Xanadu [1][2]. - The closing of the business combination is anticipated to occur on March 26, 2026, subject to customary closing conditions and stock exchange approval [2]. Group 2: Financial Proceeds - The transaction is expected to generate gross proceeds of approximately USD 302 million, which includes funds from Crane Harbor's trust account and a fully committed PIPE financing [3]. - In addition to these proceeds, negotiations with the Government of Canada and Ontario for an investment of up to CAD 390 million under Project OPTIMISM are ongoing [3]. Group 3: Company Overview - Xanadu is a leader in photonic quantum computing, focusing on developing scalable, modular, and networked quantum computers that operate at room temperature [4]. - The company was founded in 2016 and has established itself as a prominent player in quantum hardware and software, also leading the development of PennyLane, an open-source software library for quantum computing [6]. Group 4: Leadership Statements - The CEO of Crane Harbor expressed excitement about supporting Xanadu's mission for accessible, fault-tolerant quantum computing and emphasized the importance of the transaction for Xanadu's commercial roadmap [5]. - Xanadu's CEO highlighted that becoming the first publicly traded photonic quantum computing company positions them for technological leadership and a focus on practical quantum solutions for customers worldwide [5].

TORONTO, March 18, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, has today announced a novel quantum computational algorithm to accelerate the discovery and analysis of next-generation battery materials. Published as a pre-print article, Xanadu’s new research, in collaboration with the University of Toronto and the National Research Council of Canada (NRC) as part of the NRC’s Applied Quantum Computing Challenge program, demonstrates how ...

TORONTO, March 11, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today announced that it has entered negotiations with the Government of Canada and the Government of Ontario for support for Project OPTIMISM, an initiative to establish advanced semiconductor and photonic manufacturing capabilities for the quantum technology supply chain in Canada. Subject to due diligence and the execution of definitive agreements, up to $390 million in co ...

TORONTO and DAEJEON, South Korea, March 11, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, has partnered with the Electronics and Telecommunications Research Institute (ETRI), South Korea’s premier government-funded research institution, on a new two-year collaborative research project. The project is supported by a major grant from the South Korean government to advance the nation’s quantum ecosystem. Building on the two organizations’ su ...

Core Insights - Xanadu Quantum Technologies Inc. has made significant progress in applying quantum computing to aerospace and engineering by integrating AMD's high-performance computing and AI technologies [1][2] - The collaboration has successfully demonstrated computational fluid dynamics (CFD) simulations in a hybrid quantum-classical environment, showcasing the potential of quantum computing in optimizing aircraft design and efficiency [2][4] Company Developments - Xanadu has partnered with AMD to enhance the performance of its PennyLane quantum software, demonstrating a 25-fold reduction in simulation time by transitioning from a traditional CPU to a single AMD GPU [3] - The partnership aims to prepare the aerospace industry for the adoption of fault-tolerant quantum computing by optimizing large-scale quantum programs [3][4] Industry Impact - The aerospace sector relies heavily on CFD simulations for design optimization, and the successful execution of a CFD model with 256x256 matrix elements using 20 qubits and approximately 35 million quantum gates marks a significant milestone [2] - As the industry moves towards fault-tolerant quantum computing, the ability to compile and optimize complex programs will provide a competitive edge [2][3] Business Combination - Xanadu has announced a business combination agreement with Crane Harbor Acquisition Corp., which is expected to result in approximately US$500 million in gross proceeds for the combined entity [6] - The new company, Xanadu Quantum Technologies Limited, is anticipated to be listed on the Nasdaq Stock Market and the Toronto Stock Exchange [6]

Core Insights - Xanadu Quantum Technologies Inc. has been awarded $2,027,507 in funding from the U.S. Department of Energy's ARPA-E to develop a quantum simulation platform aimed at advancing next-generation batteries [1][2] - The project, in collaboration with the University of Chicago, aims to create quantum algorithms that will significantly reduce simulation runtimes by 100 times compared to classical methods while maintaining high accuracy [3] - The research is expected to have a substantial impact on the development of high-energy-density batteries and will also be applicable to other sectors such as nuclear energy and petrochemicals [4][5] Funding and Business Combination - The funding from ARPA-E is part of a broader strategy to leverage government partnerships for larger-scale opportunities in the U.S. and Canada [2] - Xanadu is in the process of a business combination with Crane Harbor Acquisition Corp., which is projected to provide approximately $500 million in gross proceeds, including $225 million from Crane Harbor's trust account and $275 million from strategic investors [7][8] Project Goals and Methodology - The project aims to develop specialized algorithms for X-ray absorption spectroscopy and reaction rates, with the University of Chicago providing essential molecular structures for simulations [3] - The ultimate goal is to create a roadmap for how quantum computing can support advancements in global energy storage and industrial research and development [5]

Core Insights - Xanadu Quantum Technologies Inc. is advancing towards becoming a publicly listed company through a business combination with Crane Harbor Acquisition Corp, with the transaction expected to close in the first quarter of 2026 [4][9][12] Company Overview - Xanadu is a Canadian quantum computing company founded in 2016, focusing on building useful quantum computers and leading the development of the PennyLane software library for quantum computing [10] - The company aims to be the first pure-play, publicly listed photonic quantum computing company, offering a credible path to scalability [7] Analyst Day Highlights - The Analyst Day showcased Xanadu's technical roadmap and commercialization strategy, emphasizing its photonic approach to quantum computing and a full-stack platform [5] - Xanadu has developed the first networked, modular, and scalable quantum computer, Aurora, positioning it close to practical error correction [7] - The company targets meaningful end-customer commercialization by 2029 and is well-capitalized post-closing, having raised US$275 million in the largest quantum PIPE since 2022 [7] Transaction Overview - The business combination with Crane Harbor is expected to provide approximately US$500 million in gross proceeds, including US$225 million from Crane Harbor's trust account and US$275 million from strategic investors [12] - The combined company, to be named Xanadu Quantum Technologies Limited, is expected to trade on the Nasdaq and the Toronto Stock Exchange under the ticker symbol "XNDU" [8] Financial Projections - The proposed transaction implies a pro forma enterprise value of approximately US$3.1 billion and expected net cash of around US$455 million at closing, assuming no redemptions [14]

NEW YORK, March 04, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today is hosting its 2026 Analyst Day at the Nasdaq MarketSite in New York, in advance of the anticipated closing of its previously announced business combination with Crane Harbor Acquisition Corp. (“Crane Harbor”) (Nasdaq: CHAC). “We are encouraged by the level of interest from the financial community as we host our Analyst Day today,” said Christian Weedbrook, Founder an ...

Core Insights - Xanadu Quantum Technologies Inc. is moving closer to becoming a publicly traded company through a business combination with Crane Harbor Acquisition Corp, with the SEC declaring their joint registration statement effective [1][2][3] Company Overview - Xanadu is a Canadian quantum computing company founded in 2016, focused on building accessible quantum computers and leading the development of PennyLane, an open-source software library for quantum computing [4] - The company aims to demonstrate its critical role in the quantum computing landscape through commercial partnerships and technological advancements [3] Business Combination Details - The business combination is expected to close in Q1 2026, pending shareholder approvals and stock exchange listings on the Toronto Stock Exchange and Nasdaq [2][5] - The transaction is projected to generate approximately US$500 million in gross proceeds, with US$225 million from Crane Harbor's trust account and US$275 million from strategic and institutional investors [5] Strategic Partnerships and Initiatives - Xanadu has launched a joint research initiative with Lockheed Martin to advance quantum machine learning and collaborated with Mitsubishi Chemical on quantum algorithms for semiconductor manufacturing [7]

TORONTO, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Xanadu (Xanadu Quantum Technologies Inc.), a world leader in photonic quantum computing, in partnership with Mitsubishi Chemical, a major Japanese chemical manufacturer, has announced the release of a new paper detailing a novel quantum simulation technique for semiconductor chip research and development. The pre-print research paper provides a scalable technique for simulating quantum processes involved in extreme ultraviolet (EUV) lithography, a wafer patterning ...